U.S. stock futures are pointing to a lower open on Tuesday as investors continue to expect the Federal Reserve to forgo a cut to interest rates.
Continue Reading Below
Dow Jones Industrial futures are down 0.4 percent, S&P 500 futures are off 0.3 percent, while Nasdaq futures were lower by 0.4 percent.
Fed Chairman Jerome Powell will present his semi-annual testimony to the U.S. Congress on Wednesday and Thursday. His appearance will give investors an opportunity to gauge near-term monetary policy thinking. Also, the Fed will release the central bank’s June meeting minutes on Wednesday.
MORE FROM FOXBUSINESS.COM
Top U.S. and Chinese officials are expected to speak this week in an attempt to jump-start stalled trade negotiations between the two nations, but many of the same tensions that undermined talks previously remain.
In Asian markets on Tuesday, China’s Shanghai Composite closed down 0.2 percent, Hong Kong’s Hang Seng fell 0.8 percent and Japan’s Nikkei added 0.14 percent.
Advertisement
PepsiCo is reporting better-than-expected profit and revenue as the company continues its shift to healthier snacks and drinks under a new CEO.
After rising for four months, confidence in the economy by small business owners declined in June.
The Small Business Optimism Index had a June reading of 103.3, down 1.7 points from the prior month, according to the National Federation of Independent Business.
In Europe, London’s FTSE is lower by 0.1 percent, Germany’s DAX dropped 1 percent and France’s CAC was off by 0.5 percent.
CLICK HERE TO GET THE FOX BUSINESS APP
U.S. stocks finished lower on Monday, their second consecutive down day, as dimming prospects that the Federal Reserve will cut interest rates anytime soon weighed on equities.
The weaker hopes for cheaper money stemmed from last week’s better-than-expected jobs report.
